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A Call for Action Against Payday Lenders

by Troutman Sanders CFPB Team The director of the consumer protection for the Mississippi Center for Justice calls for the Consumer Financial Protection Bureau (CPFB) to take action against payday lenders. Payday lending is a $30 billion-a-year business offering low-dollar, short-term, high-interest...

Consumer Financial Protection Bureau Looking for Complaints about Payday Lenders

by Troutman Sanders CFPB Team By a blog post on September 30, 2011, Gail Hillebrand, Associate Director for Consumer Education and Enforcement for the Consumer Financial Protection Bureau (CFPB), invited comments from those with concerns about payday lenders. According to the post, the CFPB is seeking...

CFPB Takes First Action Against Online Loan Servicer

by Lauren E. Quigley On December 16, 2013, the CFPB initiated its first action against an online loan servicer. CashCall, Inc. allegedly engaged in unfair, deceptive, and abusive practices. The CFPB investigation uncovered evidence that the company had violated either licensing requirements or interest...